Retracement to Tightness
Note: The historical stock examples given below are for EDUCATIONAL USE ONLY. They ARE NOT to be used to make buy/sell decisions in today's market. For more information, please read the HSR Terms of Use.
Description
A stock corrects in price, but finds support when it reaches a price level from its prior uptrend that featured tight trading.
What you need to know
Tight trading areas within uptrends represent zones of accumulation (demand).
If a stock corrects to a prior area of demand (tight trading), it may find support and start to work its way back up to its old high.
Historical Stock Chart Examples 1A-1C: Corning (GLW) 1999
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Click to enlarge 1A
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Click to enlarge 1B
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Click to enlarge 1C
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Please >>CLICK HERE<< to go to the next price behavior within Base Behaviors.
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